Dynamic Conversion between Currencies


#1

Hey all. I am still new to Revolut and there might be something i have misunderstood. If so, let me know.

I have a virtual revolut card I added to AirBNB with success. I had to make a payment for 180.01usd. So i topped up my account with some money and exchanged 180usd. At this point i had about 200dkk as one currency and 180usd as another. When i clicked “Pay” on airbnb it was declined. I then proceeded to exchange so i had 181usd in total. This time the payment went through.

Why didn’t it just empty the usd for 180usd and then auto exchange 1cent from my dkk currency?


#2

Hi Henry!

From the FAQ:

You need to have sufficient funds in one single balance in order to make a transaction. If you don’t have enough funds in the balance of the local currency, it will default to your next largest balance and so on.

As I understand it, you had two balances: 180.00 USD and 200.00 DKK (around 33 USD), which explains why your 180.01 USD payment didn’t go through.
I agree with you though, ideally it should just take the money from another currency and do the payment… maybe one day :slight_smile:


#3

You need to have sufficient funds in one single balance in order to make a transaction. If you don’t have enough funds in the balance of the local currency, it will default to your next largest balance and so on.


#4

Okay. I can see how that makes sense from a technical perspective. But it comes at some loss to the customers. Lets say i am buying something for 201USD and have 199USD in my account but 2 LTC, then it would deduct the whole 200usd from my LTC which is never what i want.

So i hope that you will implement it differently at some point like. Empty the currency from the USD account and then the rest from my base currency. And if both does not have enough coverage then decline.


#5

Not really because you can deactivate the pocket to prevent any transactions from going through your crypto wallet.


#6

henrikbjorn, this kind of strange as you had to be charged in GBP by Airbnb. They force DCC on customer to convert any currency to payment method currency. In Revolut case it is GBP. Please check you Airbnb receipt if you actually made payment in USD and transaction Revolut.


#7

I just changed the currency on the bottom of the page to the currency where my booking is located. Then they proceeded to charge in USD and no DCC or fee :slight_smile:


#8

Sure, but still applies if i have a large amount of my base currency and go to the us with 500usd in us currency. Then if i buy something for 501 usd it will use my base currency and not the usd. this cannot be disabled :slight_smile:


#9

Are you using MC or Visa? I was charged in GBP without my consent and my both Airbnb and Revolut accounts are EUR.

Not surprising such practice is fine for Revolut chargeback team, but it is totally against MC DCC rules:

When DCC is offered on the Internet, a currency conversion option may have occurred when the cardholder enters his or her card details or at check-out of the “basket”. In this case, the Merchant must clearly state to the Cardholder – on the same page and not hidden – the following:
• The option that has been pre-selected
• The option to opt-out of the currency conversion and complete the sale in the local currency
• The transaction amount in the local currency
• The transaction amount converted into the Cardholder’s billing currency
• The currency symbol or code of each
• The currency conversion rate
• Additionally, it is best practice that any fees that could be included in the transaction should be clearly disclosed (commission, VAT, etc.)
• The total price, including the above fees.


#10

This was a Virtual VISA Card the 180.01 was what the Site said, also there was no disclaimer as the one you have posted after i changed from DKK to USD.